KSH: Average earnings in Hungary up 5.3% in November

Telco

Average earnings in Hungary were up 5.3% in November in year-on-year terms, at  HUF 264,468, with the salary increase of armed forces and the payment of an additional allowance for those working in social services fields having an impact on earnings growth in November, Hungary’s Central Statistical Office (KSH) reported today.

In November the average net wage was up at the same pace, reaching HUF 173,228, while real wages climbed 4.8% as consumer prices edged up 0.5% in November, KSH said.

Excluding the 171,400 Hungarians in fostered work programs, the average gross wage was up 6.1%, to HUF 279,164, in year-on-year terms in November. Net wages increased at the same rate to HUF 182,854, Hungarian news agency MTI reported, adding that full-time fostered workers earned gross HUF 79,912 on average during the month.

In the period of January-November, average earnings were up by 4.1% in year-on-year terms, while average net earnings, excluding family tax benefits, were HUF 160,800 by national concept.

During the period, the average gross nominal earnings of full-time employees, according to the national concept, amounted to HUF 245,500 at corporations employing at least five persons, as well as budgetary and designated non-profit institutions, KSH data show.

According to KSH, regular earnings increased by 0.2 percentage points in the period in year-on-year terms, less than gross earnings, while wages and salaries according to the SNA concept rose by 4.0%.

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